With price now above the upper edge of a multi-year channel, it is time to review monthly charts.
Another very small range day makes a very slight new high but closes red. Price is moving sideways, which is what the Elliott wave count expected for the short term.
The upwards trend continues as the Elliott wave count expects.
Members have been advised to expect corrections at this time to be relatively brief and shallow, which is exactly how the market is behaving.
New all time highs were expected. This week they have shown up. The Elliott wave count targets are recalculated.
Both wave counts remain valid and technical analysis still supports the main wave count.
Another very small range day with price closing within a consolidation zone leaves the Elliott wave analysis the same.
The middle of a third wave may be unfolding as expected. Elliott wave targets remain the same.
The upwards trend was expected to resume with strength this week, which is exactly what is happening so far. The Elliott wave count targets remain the same.